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Malaysia's Industronics gets $1bn funding access from China's SDIC

Southeast Asian electronics company is diversifying into financial services

Industronics will set up a local investment bank in Malaysia, while SDIC will provide access to funding for asset management and capital market services. (Source photos from SDIC and Industronics websites)

CEBU, Philippines -- Malaysia-listed electronics company Industronics will receive access to an estimated $1 billion in funding from China's State Development & Investment Corporation (SDIC) as part of their collaboration on asset management and capital market services.

Industronics said its agreement with SDIC, a state-owned investment holding company, is in line with plans to acquire 10% of Hong Kong-based asset management and credit company Bluemount Financial Group.

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